Match Group (NASDAQ:MTCH) Price Target Raised to $45.00

Match Group (NASDAQ:MTCH) had its target price boosted by Susquehanna from $40.00 to $45.00 in a research report released on Thursday morning,Benzinga reports. Susquehanna currently has a positive rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. Barclays lowered their price objective on Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Wells Fargo & Company lifted their price target on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. UBS Group lifted their price target on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Citigroup lowered their price target on Match Group from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.44.

Match Group Price Performance

Match Group stock opened at $36.09 on Thursday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.72 and a beta of 1.36. Match Group has a 1-year low of $26.39 and a 1-year high of $38.77. The business has a fifty day moving average price of $32.40 and a 200-day moving average price of $31.57.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group’s payout ratio is 37.44%.

Insider Activity

In other news, Director Stephen Bailey sold 12,500 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director owned 8,058 shares of the company’s stock, valued at $295,889.76. The trade was a 60.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Starboard Value LP raised its holdings in Match Group by 53.4% in the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock worth $479,429,000 after purchasing an additional 5,100,824 shares during the period. Ameriprise Financial Inc. raised its holdings in Match Group by 17.4% in the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company’s stock worth $384,808,000 after purchasing an additional 1,822,362 shares during the period. Invesco Ltd. raised its holdings in Match Group by 64.2% in the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock worth $298,451,000 after purchasing an additional 3,738,509 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Match Group by 10.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,573,084 shares of the technology company’s stock worth $173,880,000 after purchasing an additional 506,763 shares during the period. Finally, Nuveen LLC acquired a new position in Match Group in the 1st quarter worth about $142,281,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.